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Friday, October 22, 2021

Metaverse meets Blockchain: Dvision Network Bridges to Binance Smart Chain

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The virtual reality (VR) world of Dvision Network will now integrate with the Binance Smart Chain (BSC), an Ethereum Virtual Machine (EVM) compatible network that supports a rich universe of decentralized applications (DApps).

Dvision Network’s native ERC-20 token, DVI, will be enabled in the form of a BEP-20 token with a multi-chain functionality supported by the asset portal bridge Looking Glass. This bridge is built on top of Curvegrid’s MultiBaas blockchain middleware, which makes it fast, easy, and cost-effective to build on multiple blockchain platforms. In this context, it allows the easy and seamless cross-chain transfer of DVI tokens.

DVI Token and BSC Bridge

It is worthy to be noted that the BEP-20 standard of DVI token will not replace the existing ERC-20 standard DVI token. Instead, the two token smart contracts — BSC and Ethereum — will power an interoperable bridge to move either of the tokens from one end to another.

To put it simply, Dvision will be live on Ethereum mainnet as an ERC-20 token while being accessed as well on the Binance Smart Chain as a BEP-20 token. As a result, new use cases for the DVI token will open up and it will widen its exposure for being a part of the BSC ecosystem.

Dvision’s BSC bridge has been built in collaboration with the Curvegrid team. Anticipated to go live in the coming week, through the Looking Glass asset portal bridge, DVI tokens can be transferred simultaneously across both chains.

Looking Glass will initially support bi-directional transfers between Ethereum and Binance Smart Chain, ensuring security through on-chain and off-chain multi-factor and multi-signature authentication. Onboarding and asset transfer are intended to be simple and secure and can be managed through an intuitive web UI.

Binance Smart Chain

BSC is now considered to be the largest ecosystem in the blockchain space with a 9 million daily transaction volume. In fact, it has outperformed the Ethereum network’s all-time high daily transaction volume of 1.5 million.

Hence, Dvision Network strives to be a part of the Binance Smart Chain to bring to life its vision and belief of utilizing a blockchain-powered VR content ecosystem and marketplace. With BSC’s high scalability, high throughput performance, and fast decentralized trading with low fees, Dvision can unlock the next generation of its innovation.

This integration will enable advanced smart contract capabilities and massive computation for Dvision Network on top of the Binance Smart Chain.

Dvision Network

The Dvision team aims to develop and further cultivate the VR industry. By implementing blockchain, Dvision Network aims to form an environment where each network participant can work on building a new interconnected virtual reality world.

Consisting of three main functions, namely Meta-Space where virtual space can be acquired and customized; Meta-City where a public VR world can be enjoyed with exclusive hideouts; and the NFT Market where unique items can be created and traded. By and large, the Dvision ecosystem is designed for users, businesses, and developers. Moreover, among its initial use cases are VR Games, VR Theme Park, Military Education, and the MICE industry.

From a macro perspective, the NFT market is claimed to be one of the most profitable emerging technologies forecasted to be valued at nearly $185 billion by 2026. Hence, Dvision believes that establishing a VR-blockchain convergence can have a huge impact on the Industry 4.0 revolution.

Dvision mention in a recent blog post that they are set to launch on Binance Smart Chain (BSC). The platform also started a countdown on their website, which pinpoints the official launch of the bridge on May 20, 2021.

In particular, Dvision Network is a blockchain-based VR content ecosystem. Blockchain-based virtual reality platform Dvision Network recently released the first limited-edition NFT item that was placed for auction on OpenSea Marketplace.According to CoinChckup. the Dvision price is $0.54 with a 24-hour trading volume of $9,933,027, at the time of writing.

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